GTECH Announces Final Per Share Merger Consideration For IGT

(RTTNews) - Italian gaming company GTECH S.p.A. on Thursday announced the final per share consideration for its acquisition of Las Vegas-based slot-machine maker International Game Technology (IGT).

GTECH said that upon completion of the transactions contemplated by the deal, IGT shareholders will be entitled to receive $14.3396 in cash. Also, IGT shareholders would receive 0.1819 ordinary shares of NewCo - the newly formed U.K. holding company for the combined organization - for each share of IGT common stock.

GTECH shareholders will receive one ordinary share of NewCo for each share of GTECH.

The merger is expected to close on April 7, and NewCo will trade on the New York Stock Exchange under the ticker symbol IGT.

In July, IGT agreed to be acquired by GTECH for $6.4 billion, comprising $4.7 billion in cash and stock and the assumption of $1.7 billion in net debt.

The deal is expected to create the world's leading end-to-end gaming company, which will be uniquely positioned to capitalize on opportunities in global gaming market segments.